$62 Million Gone? Cryptocurrency Mining Market NiceHash Hacked

Published by on December 6, 2017|Comments Off on $62 Million Gone? Cryptocurrency Mining Market NiceHash Hacked

The cryptocurrency mining marketplace NiceHash has been hacked, its team said in a newly released statement.

Posting on social media, NiceHash said that “there has been a security breach involving NiceHash website” resulting in a loss of funds. NiceHash, formed in 2014, serves as a marketplace for miners to rent out their hash rate to prospective buyers.

The announcement follows an hours-long outage and reports from a multitude of users that their NiceHash-associated wallets had been emptied. NiceHash previously announced that it was “under maintenance,” a message that it had posted to its official website as well.

“Importantly, our payment system was compromised and the contents of the NiceHash Bitcoin wallet have been stolen. We are working to verify the precise number of BTC taken. Clearly, this is a matter of deep concern and we are working hard to rectify the matter in the coming days. In addition to undertaking our own investigation, the incident has been reported to the relevant authorities and law enforcement and we are co-operating with them as a matter of urgency.”

Though the team didn’t disclose an exact amount, a wallet address circulated by NiceHash users suggest that as many as 4,736.42 BTC – an amount worth more than $62 million at current prices – has been stolen.

The NiceHash team urged users to change their online passwords as a result of the breach and subsequent theft.

“While the full scope of what happened is not yet known, we recommend, as a precaution, that you change your online passwords,” they wrote in the statement.

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at news@coindesk.com.